Mathematics General 2 units : Money Matters

Unit outline

Learning Outcome : Duration 2: 50 minutes/lesson

Represents information in symbolic, graphical and tabular form MS11-2 16 lessons
Models relevant financial situations using appropriate tools MS11-5
Makes predictions about everyday situations based on simple
mathematical models MS11-6
Use appropriate technology to investigate, organize and interpret
information in a range of contexts MS11-9
Justifies a response to a given problem using appropriate mathematical
terminology and/or calculations MS11-10
Topic Focus
The main focus of this subtopic is to calculate and graph simple interest,
manage earnings, wages and taxation, and develop an appropriate
budget for a given situation.
Students develop an ability to justify various types of financial decisions
which will affect their life now and into the future.

Lesson Teaching, learning and assessment content. Learning

Outcomes

1 Introduce about the topic- Money Matters MS11-5

What are expectations from teacher to student on this topic? MS11-2
Briefly derisible mains focuses: MS11-9
F1.1: Interest and depreciation MS11-6
F1.2: Earning and managing money
F1.3: Budgeting and household expenses
Introduction about interest and depreciation

2 F1.1: Interest and depreciation MS11-5

Calculate simple interest for different rates and periods Student understand MS11-2
how to use percentage to apply and find out increase or decrease in various MS11-6
contexts MS11-10

3 F1.1: Interest and depreciation MS11-5

Calculate the depreciation of an asset using the straight-line method as an MS11-2
application of the simple interest formula MS11-6
MS11-10
4 F1.1: Interest and depreciation MS11-5
Use a spreadsheet to calculate and graph compound interest as a recurrence MS11-2
relation involving repeated applications of simple interest MS11-6
MS11-10
5 F1.2: Earning and managing money MS11-2
Calculate monthly, fortnightly, weekly, daily or hourly pay rates from a given MS11-6
salary, wages involving hourly rates and penalty rates, including situations MS11-10
involving overtime and other special allowances MS11-5

6 F1.2: Earning and managing money MS11-5

MS11-2
 Calculate earnings based on commission (including commission based on a sliding MS11-6
scale), piecework or royalties MS11-10

7 F1.2: Earning and managing money MS11-2

Calculate annual leave loading calculate payments based on government MS11-6
allowances and pensions MS11-10

8 F1.2: Earning and managing money MS11-5

Calculate income tax: MS11-2
Identify allowable tax deductions, for example tax instalments, MS11-10
superannuation contributions, health fund instalments, union fees, HECS MS11-6
repayments, trade tools, mobile phone use, professional magazine
subscription, home office equipment or a utility vehicle
Calculate taxable income after allowable tax deductions are taken from gross pay

10 F1.2: Earning and managing money MS11-5

Calculate income tax: MS11-6
calculate the Medicare levy (basic levy only) MS11-10
calculate net pay following deductions from income MS11-2
calculate the amount of Pay As You Go (PAYG) tax payable per fortnight or
week using current tax scales, and use this to determine if more tax is
payable or if a refund is owing after completing a tax return
Use digital technology to perform financial computations, for example calculating
percentage
change, calculating tax payable and preparing a wage-sheet

11 Assessment Task: Surveying project MS11-2

MS11-10
MS11-5

12 F1.3: Budgeting and household expenses MS11-10

Learn to interpret and use information about a households electricity, water or MS11-5
gas usage and related charges and costs from household bills MS11-2
MS11-6

13 F1.3: Budgeting and household expenses MS11-9

Plan for the purchase of a car MS11-2
Describe the different types of insurance available, including compulsory MS11-10
and non-compulsory third-party insurance, and comprehensive insurance MS11-5
Investigate other running costs associated with ownership of a vehicle, for
example cost of servicing, repairs and tyres
Calculate and compare the cost of running different vehicles using a
spreadsheet
14 F1.3: Budgeting and household expenses MS11-2
Prepare a personal budget for a given income, taking into account fixed and MS11-6
discretionary spending MS11-10

15 Topic Revision : Money Matters

16 Topic Test: Money Matters